Acelyrin (NASDAQ:SLRN) Shares Down 6.9% – What’s Next?

Acelyrin, Inc. (NASDAQ:SLRN) shares traded down 6.9% during trading on Friday . The stock traded as low as $6.01 and last traded at $6.03. 164,354 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,074,913 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLRN. Piper Sandler dropped their price target on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Morgan Stanley reduced their price target on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. HC Wainwright downgraded shares of Acelyrin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their target price on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.17.

Acelyrin Stock Performance

The firm has a market cap of $618.82 million, a price-to-earnings ratio of -2.18 and a beta of 2.33. The stock’s fifty day moving average is $4.89 and its two-hundred day moving average is $4.93.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter in the prior year, the business posted ($0.56) EPS. Sell-side analysts predict that Acelyrin, Inc. will post -3.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in shares of Acelyrin by 118.0% during the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after purchasing an additional 3,921 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Acelyrin during the 2nd quarter worth about $49,000. SG Americas Securities LLC bought a new stake in shares of Acelyrin during the 2nd quarter worth about $51,000. Nisa Investment Advisors LLC lifted its stake in shares of Acelyrin by 58,570.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after acquiring an additional 14,057 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Acelyrin by 69.9% in the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock valued at $134,000 after acquiring an additional 8,176 shares in the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.

About Acelyrin

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.